IBULHSGFIN has completed the much anticipated and a slow ROund bottom. and back to testing the lifetime highs. May breakout or reverse on account of Results. MIght Flag up after the sharp leg up, before taking a direction.
IBULHSGFIN is dancing in a rising_expanding_Wedge,
.. which looks like a Flag on higher timeframe of a solid leg up since start of 2017.
Right now its approaching the middle level of the wedge, crossing which can lead to the completion of the leg down.
or it can reverse form there.
IBULHSGFIN- Stock just on making of head and shoulder and created neckline at level of 1050-1060 so its at strong support of bulls in this stock if stock trade below that then stock can see 975-925 also but if still in bull so there right shoulder high can be 1150-1175
Very long narrow trendline about to break on coming days and it may leads to fall. MACD not completely bearish trend but bearish on bullish trend.
Short below - 1110
Target 1 - 1088
Target 2 - 1069
Target 3 - 1051
Stop Loss - 1130
Note - There is a Range on Target 2 & 3. Avoid confusion on targets, if the target 1 hit then keep change the stop loss accordingly.